Palo Alto, Calif. December 13, 2021 – Lynx MD, the healthcare AI platform for real world clinical and operational data collaboration, announced it has raised $12 million (€10.64 million) in seed financing.
The oversubscribed round was led by MizMaa Ventures with participation from New York Life Ventures, Amdocs, and iAngels, as well as existing investors Triventures, UpWest and notable angels. Lynx will use the new capital for commercial acceleration, and expansion of its customer success, sales, and marketing teams in the US and R&D team in Israel.
Real world data is critical to drive innovation and improve care in the healthcare industry, but security hurdles, patient privacy concerns and IT resource shortages make it difficult for clinical leaders, researchers, and analysts to access patient data at scale. Additionally, for research organisations, accessing data is one of the main bottlenecks in innovation cycles, taking months to gain access to the required quality datasets.
Lynx solves these challenges by making scalable data access and rapid innovation cycles a reality for the first time in the industry. In its secure, sandboxed environment, Lynx empowers its users to access massive amounts of real-world medical data and facilitates decisions using data science and AI. With Lynx’s solution, everything stays under the control of the healthcare organisations and no individual patient’s health data ever leaves the Lynx protected environment a monumental shift in the way health data is shared today.
Lynx’s platform performs on-the-fly de-identification on all types of data including imaging, genomics, doctors’ notes, device data, medical records, labs, and more. The one-stop shop platform includes a full AI development workbench and can be deployed in just days with little to no customer IT resources required, making Lynx a highly sought after solution by healthcare organisations.
“AI and machine learning models are only as good as the data which feeds them. Quality, variety and volume of the data are key,” says Omer Dror, co-founder and CEO of Lynx. “This is especially true and important in the healthcare industry where people’s lives are at stake. AI has incredible potential to help researchers, drug developers, and doctors discover new ways to improve patient outcomes and the healthcare industry overall, but only if we solve the data access conundrum”.
With this financing, Lynx will continue to execute on its mission to facilitate secure, seamless, and scalable access to data in order to improve clinical and financial outcomes in health organisations, while simultaneously accelerating innovation cycles.
“Lynx is solving a real pain point in the healthcare industry and has created a truly scalable solution that can cope with challenges previously unresolved in the health data sharing domain. We’re excited to partner with the great leadership team at the company and support it in its next phases of growth,” says Isaac Applbaum, founding partner at MizMaa Ventures, who joins Lynx’s board of directors as part of this financing.
Follow us and Comment on Twitter @TheEE_io